Citywide percentage of rental units in projects receiving city financial assistance that must be affordable for extremely low-income and very low-income households.

A Local Law to amend the administrative code of the city of New York, in relation to the citywide percentage of rental units in projects receiving city financial assistance that must be affordable for extremely low-income and very low-income households

This bill would set minimum percentages of rental units that receive city funding that must be affordable for extremely low-income and very low-income households. Of the total citywide number of rental units in construction or rehabilitation projects that the Department of Housing Preservation and Development approves to receive city funding in a fiscal year, at least 30% of the units must be affordable for extremely low-income households, and at least 20% of the units must be affordable for very low-income households. Housing units set aside for homeless individuals and families and housing units used for supportive housing in these projects are considered affordable for extremely low-income households.